Annual electric-vehicle sales in the US will need to jump by about 900,000 units by 2020, according to the report. In Europe, annual EV sales will need to surge by 1.4 million units. And in China? Car-buyers will need to buy about 5.3 million more electric vehicles each year than they do now.
The report reflects how automakers appear to be falling behind the pace needed to meet greenhouse-gas-emissions standards that the European Union, the US, and China have set for the next few years. Taken together, the standards indicate that fleet widefuel economy will need to jump about 30 percent between 2014 and 2020. That means that, within a global annual sales rate of about 40 million light-duty vehicles, annual sales of EVs will need to surge by more than 7 million. Yes, that's an awful high bar to set for the Chevrolet Bolt, Tesla Model 3, or any model made by China-based electric-vehicle maker BYD.
To put those numbers into perspective, US plug-in vehicle sales (including plug-in hybrids) through May were up about 7 percent from a year earlier to about 43,000 units, which is a veritable drop in the bucket compared to the numbers in the World Energy Council Report. June's US green-car sales figures will come out Friday.